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The real price of base metals exhibits a decreasing trend over time. Wemodel base metals prices as the equilibrium of aggregate supply and demand.This allows us to study the effect of determinants of base metals prices. Thetrend in the price of base metals depends on technological progress, resourcescarcity, natural resource taxes, and the interest rate. Under certainparameter restrictions we can explain the decreasing trend in prices over time.This phenomenon is mostly explained by the substitution effect andtechnological progress. We derive policy implications related to naturalresource taxation.


Base Metals Prices, Price Trends, Historical Price, Mining, Metals Industry, LME, CRS

Cite this paper

Anh, N. and Semenov, A. 2015 Trends of Base Metals Prices. Theoretical Economics Letters, 5, 531-540. doi: 10.4236-tel.2015.54062.

Author: Nguyen Bao Anh, Aggey Semenov



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